CGR - Calgro M3 Holdings Limited - Fulfilment Of All Outstanding Conditions

CGR - Calgro M3 Holdings Limited - Fulfilment Of All Outstanding Conditions     
    Precedent In Respect Of The Disposal Of 30% In Fleurhof Extension 2         
    (Proprietary) Limited To South Africa Workforce Housing Fund Lp And Related 
Funding Arrangements                                                        
CALGRO M3 HOLDINGS LIMITED                                                      
(Incorporated in the Republic of South Africa)                                  
(Registration Number 2005/027663/06)                                            
Share Code:  CGR      ISIN:  ZAE000109203                                       
("Calgro" or "the Company")                                                     
FULFILMENT OF ALL OUTSTANDING CONDITIONS PRECEDENT in respect of the DISPOSAL OF
30% IN FLEURHOF EXTENSION 2 (PROPRIETARY) LIMITED TO South Africa Workforce     
Housing Fund LP AND RELATED FUNDING ARRANGEMENTS                                
Shareholders are referred to the Calgro circular dated 7 April 2009 wherein the 
Company outlined the intention of Calgro M3 Land (Proprietary) Limited ("Calgro 
M3 Land"), a wholly-owned subsidiary of Calgro, to dispose of 30% of its equity 
interest in Fleurhof Extension 2 (Proprietary) Limited, a wholly-owned          
subsidiary of Calgro M3 Land, for a total cash consideration of R30 million, and
related funding arrangements ("the Transaction").                               
As announced on SENS on 23 April 2009 ("the announcement"), all resolutions     
relating to the Transaction had been passed unanimously by shareholders present 
and voting, in person or by proxy, at the general meeting held on the same day. 
Shareholders are hereby advised that all other remaining conditions precedent to
the Transaction, as detailed in the announcement, have now been fulfilled,      
resulting in the Transaction becoming unconditional.                            
Johannesburg                                                                    
20 May 2009                                                                     
Corporate and Designated Advisor                                                
PSG Capital (Proprietary) Limited                                               
Date: 20/05/2009 13:43:02 Supplied by www.sharenet.co.za                     
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